As I mentioned previously check the gap clearance..
Yes.. The pickup could be bad,
But the majority of instances it is the gap adjustment is too wide..
The pickup completes the firing system to the MSD box which fires the coil..

It is EZ takes about 5 minutes..

Just my $0.02..

If you have a spare dist in your stash (from any eng) plug it in and spin it by hand (in it's direction of rotation) w key on as a helper holds the coil wire 1/4" from ground and see if it sparks. take off the yellow "ign" wire from the starter relay on the fender to disable the starter and have a 3rd helper hold the key to "start" as you spin it again & see if you get a spark in start mode. On the reluctor gap, teeth can vary slightly in length so check each of the 8 reluctor teeth, their distance to the magnet and find the one one that sticks out the most (least gap) then w a Mityvac or similar vac pump pull the vac adv thru it's travel and find the point where the gap is the smallest and set the gap to .006"/lock the screw/recheck the gap (for .006") & that part (the gap) is done assuming the ohms part isn't way out of whack but k.i.s.s. Holler when you solve it (in this thread )

No spare distributor. I pulled my distributor out last night. I'll drop it off at shop tomorrow morning to replace the magnetic pickup.

Well thanks for the advice and tips which were helpful in determining the final root cause. It was the magnetic pickup in the distributor. Had the mag PU replaced and just installed the distributor. She fires right up. Glad to hear her alive again.

Glad you got it goin'. Thanks for letting us know the results, quite often we don't.